Taihe Intelligent(SH:603656)2021-04-16 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥474.76 million, representing a year-over-year increase of 23.26% compared to ¥385.16 million in 2019[27]. - The net profit attributable to shareholders for 2020 was approximately ¥43.42 million, a decrease of 30.43% from ¥62.42 million in 2019[27]. - The net cash flow from operating activities for 2020 was approximately ¥25.11 million, down 40.65% from ¥42.31 million in 2019[27]. - The total assets at the end of 2020 were approximately ¥1.20 billion, an increase of 13.43% from ¥1.06 billion at the end of 2019[27]. - The basic earnings per share for 2020 were ¥0.29, a decrease of 30.95% compared to ¥0.42 in 2019[28]. - The company reported a weighted average return on equity of 4.59% for 2020, down from 6.90% in 2019, reflecting a decrease of 2.31 percentage points[28]. - The gross profit margin for the specialized equipment segment was 48.86%, a decrease of 5.27 percentage points year-on-year[64]. - The net profit attributable to the parent company was 43.42 million yuan, a decrease of 30.43% compared to the previous year, primarily due to foreign exchange losses and high stock incentive expenses[61]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 15,365,160 (including tax), with a cash dividend payout ratio of 35.39% for the year 2020[5]. - The company has established a cash dividend policy, committing to distribute at least 20% of the annual distributable profits in cash from 2020 to 2022, provided that the net profit is positive[104]. - For 2019, the cash dividend was set at 1.00 RMB per 10 shares, amounting to 14,888,160 RMB, with a payout ratio of 23.85%[108]. - In 2018, the company distributed a cash dividend of 1.10 RMB per 10 shares, totaling 16,376,976 RMB, with a payout ratio of 20.29%[108]. Research and Development - The company has a strong focus on R&D, particularly in AI visual recognition technologies, to enhance its product offerings and market competitiveness[36]. - The company increased its R&D investment, with expenditures of 38.13 million yuan, 50.19 million yuan, and 55.28 million yuan in 2018, 2019, and 2020, respectively, accounting for 9.36%, 13.03%, and 11.64% of revenue[50]. - The company has developed an intelligent dry coal sorting equipment, which has generated orders exceeding ¥30 million by the end of the reporting period[37]. - The company has successfully developed a new generation AI CMOS color sorting machine, achieving breakthroughs in various recycling fields[56]. - The company is committed to technological innovation, focusing on optimizing product design and enhancing modularity and standardization in its intelligent sorting equipment[98]. Market and Product Development - The intelligent agricultural and sideline food sorting equipment has been sold to over 30 provinces in China and exported to more than 80 countries[36]. - The company is focusing on the development of industrial robots for cargo handling, addressing labor shortages and high labor costs in the logistics sector[47]. - The smart packaging equipment industry is positively correlated with the growth of downstream sectors, such as food and beverage, driven by rising consumer demand and consumption upgrades[46]. - The company is exploring further applications of smart detection and sorting equipment in non-coal mineral sorting, indicating potential market expansion[45]. - The agricultural and sideline food sorting equipment segment is the largest business area, benefiting from rising food safety concerns and increasing consumption levels[92]. Corporate Governance - The company held 3 shareholder meetings, 9 board meetings, and 8 supervisory meetings to ensure compliance with governance standards[151]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal requirements[194]. - The company has established various committees within the board, including a strategy committee and an audit committee, to enhance governance[194]. - The company has established a transparent investor relations management system, enhancing communication with investors through various channels[196]. - The company disclosed its information accurately and timely through designated newspapers, ensuring compliance with legal obligations[196]. Shareholder and Equity Management - The total number of ordinary shares increased from 148,881,600 to 153,136,600, reflecting a change of 4,255,000 shares due to the completion of the 2020 restricted stock incentive plan[160]. - The largest shareholder, Xu Dahong, holds 56,603,232 shares, representing 36.96% of the total shares, with 16,500,000 shares pledged[169]. - The company has a commitment from major shareholders to limit share reductions to 10% of their holdings over a two-year period after the lock-up period[176]. - The company granted a total of 4.255 million restricted stocks to 86 senior executives and key personnel at a price of 7.22 RMB per share[131]. - The company plans to gradually release the remaining restricted shares over the next three years, with 40% released after 12 months, another 40% after 24 months, and the final 20% after 36 months[162]. Social Responsibility - The company continues to support poverty alleviation initiatives in Feixi County through targeted funding programs[146]. - The company donated a total of 200,000 RMB to support impoverished students and families in Feixi County during 2020[147]. - A total of 29 registered impoverished individuals were helped to escape poverty through the company's initiatives[149]. - The company provided financial assistance to 113 impoverished students, with a total investment of 20,000 RMB for educational support[149]. - Future plans include funding 20 elementary school students with 1,000 RMB each and 30 junior high school students with 1,500 RMB each for the 2021 academic year[150].